1702 Mineral Wells Highway

Weatherford, TX 76088 View Map $2,700,000 Ask a Question
Sq.Ft.14,160
Year1982
Randall Luna

Randall Luna

(817) 736-5757

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Status: Sold
Property Type:Multiple Single Units
MLS #:20344442
Sq. Feet:14,160
Date Sold:12/1/2023
Lot Size:2.2 Acres
County:Parker
Dramatic Price Reduction - Priced to Sell Updated P&L, ProForma, and Rent Roll. In today's Parker County market, rarely does a stabilized multi-family holding become available. Excellent Opportunity! This small 5-building, two story complex is a well suited addition to any investor's portfolio or 1031 exchange buyer. Outside of the city limits. 100% occupancy, low maintenance and almost no deferred maintenance. Westridge Apartments provides residents with a comfortable and convenient living experience. With its well-designed units, desirable amenities, and favorable location, it presents a desirable option for individuals or families seeking a pleasant residential community in Weatherford, Texas. Adjacent to the Dollar General and a stone's throw from Brookshires Grocery, convenience is just a short walk away. Each unit is individually metered for electricity. Water and sewer are common and included with rent. Great upside potential as rental rates are currently below market.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
7/21/2023$3,700,000$2,700,000-27%

Community Information

Address:1702 Mineral Wells Highway, Weatherford, TX 76088
County:Parker
City:Weatherford
Subdivision:Aj Ball Survey
Zip Code:76088
Condo Project:Westridge Apartments

School Information

School:Weatherford ISD
High School:Weatherford
Middle School:Hall
Elementary School:Wright

Architecture

Year Built:1982
Stories:2
Construction Materials: Vinyl Siding
Roof: Composition
Foundation Details: Concrete Perimeter, Pillar/Post/Pier
Parking Features: Asphalt, Common, On Site, Open, Outside, Paved, Unassigned

Features / Amenities

Interior Features: Cable TV Available
Appliances: Dishwasher, Electric Range, Refrigerator
Flooring: Carpet, Laminate, Linoleum, Simulated Wood
Exterior Features: Balcony
Patio and Porch: Awning(s)
Heating: Electric
Cooling: Electric

Property Features

Lot Size: 2.2 Acres
Lot Features: Level
Waterfront: No
Utilities: Asphalt, Cable Available, City Sewer, City Water, Electricity Connected, Phone Available
Utilities: Asphalt, Cable Available, City Sewer, City Water, Electricity Connected, Phone Available
Fencing: Wood
Directions:From Weatherford town square, travel West on Mineral Wells Hwy (Hwy 180) for about 1.5 miles. Property will be on the right Westridge Apartments.
Property is less than a mile east of Rick Williams Loop West and Parker County Rodeo Grounds on Mineral Wells Hwy.

Tax and Financial Info

Listing Terms: Cash, Contract, Conventional
Unexempt Taxes: $15,026
Capitalization Rate: 5.29
Gross Annual Expenses: $116,733
Gross Annual Income: $259,440
Insurance Expense: $13,611
Tenancy: Pets Allowed

Listing Agent/Office

Listing provided courtesy of John McMackin, CLARK REAL ESTATE GROUP (817-458-0402).

Schools

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Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumer's personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Elevate Realty Group are marked with the NTREIS IDX logo and information about them includes the name of the listing brokerage.

NTREIS data last updated March 28, 2024.